As we approach the Memorial Day weekend, someone reminded me today of a statement made by President Ronald Reagan on June 12, 1987:
“Mr. Gorbachev – tear down this wall”
I had enlisted in the U.S. Marines and would enter training a year later. So, for the first time in my life, I was paying attention to world events.
It’s probably hard for most people to conceive, but young men and women joining the U.S. Marines were hoping for the opportunity to fight the Communist Party of the Soviet Union after high school. #TheFewTheProud
But here we are 30 years later and we probably have as many who would rather fight for it. #ComingApart
The Difference Between Communism and Socialism
“Communism and socialism are economic and political structures that promote equality and seek to eliminate social classes. The two are interchangeable in some ways, but different in others.In a communist society, the working class owns everything, and everyone works toward the same communal goal. There are no wealthy or poor people — all are equal, and the community distributes what it produces based only on need. Nothing is obtained by working more than what is required. Communism frequently results in low production, mass poverty and limited advancement. Poverty spread so widely in the Soviet Union in the 1980s that its citizens revolted. Like communism, socialism’s main focus is on equality (symmetry). But workers earn wages they can spend as they choose, while the government, not citizens, owns and operates the means for production. Workers receive what they need to produce and survive, but there’s no incentive to achieve more, leaving little motivation. Some countries have adopted aspects of socialism. The United Kingdom provides basic needs like healthcare to everyone regardless of their time or effort at work. In the U.S., welfare and the public education system are a form of socialism. Both are the opposite of capitalism, where limitations don’t exist and reward comes to those who go beyond the minimum. In capitalist societies, owners are allowed to keep the excess production they earn. And competition occurs naturally, which fosters advancement. Capitalism tends to create asymmetry between the wealthiest citizens and the poorest, however, with the wealthiest owning the majority of the nation’s resources.”
Mike Shell is the Founder and Chief Investment Officer of Shell Capital Management, LLC, and the portfolio manager of ASYMMETRY® Global Tactical.
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